Master Finance (M.A.)

What are the admission requirements?

You have a first professionally qualifying university degree or an equivalent qualification (alumni of universities, universities of applied sciences, universities of cooperative education, universities of cooperative education or equivalent international educational institutions) in a degree program with a focus on economics. You must have earned at least 180 ECTS credits as part of this degree program.

The economics major in the first degree program must include all core content of an undergraduate economics degree program (fundamentals of business administration and economics, business mathematics and statistics, fundamentals of private and commercial law). If these core contents were not included in your first degree program, you can take the corresponding Additional modules before starting your studies. We will be happy to check this for you individually.

A further requirement for admission is advanced written and spoken English language skills (comparable to level B2 of the Common European Framework). The level must be proven by a corresponding certificate (e.g. Cambridge First Certificate in English, Internet-based TOEFL test with at least 72 points) or a comparable proof of competence.

What credits are possible?

If you have already completed comparable coursework in a Master's program or comparable program at another university, recognition is generally possible. However, this is always a case-by-case assessment. Please contact our student advisory service.

How is your course structured?

1st semester:

• Methods of scientific work and empirical social research
• International management and intercultural competence
• International financial markets
• Leadership
• Process management and quality
• Project management

At the beginning of your studies, you will first deal with the methods of empirical social research, which are important for a Master's degree, in order to be able to use them in your further academic work. This is followed by the modules "International Management and Intercultural Competence" and "International Financial Markets", which reflect the international orientation of the course. In the "Leadership" module, you will deal with leadership-related content before the overarching management concepts of project and process management are addressed at the end of the first semester.

2nd semester:

• Corporate Finance
• Credit assessment and rating
• Digital Finance
• Risk management
• Portfolio management
• Corporate governance and compliance

The second semester comprises important core modules of the course. The modules "Corporate Finance", "Credit Assessment and Rating" and "Digital Finance" provide in-depth knowledge of finance-oriented issues. These modules form the basis for the advanced modules "Risk Management", "Portfolio Management" and "Corporate Governance and Compliance". In these modules, you will be confronted with a variety of practical problems in case studies in which you can apply the knowledge you have acquired.

3rd semester:

In the third semester, you will complete the three modules of your specialization and acquire expert knowledge. In preparation for your Master's thesis, you will complete a seminar paper in each of these modules, in which you will deal with subject-specific topics.

4th semester:

The central highlight at the end of your distance learning course is the Master's thesis. With this, you prove that you can work independently on a problem from the subject areas of the Master's degree program using scientific methods. Of course, you will be individually supervised by our professors during this phase and may also suggest your own topic. You present your Master's thesis at the end in a colloquium (online).

Choose one of the following four specializations:

1. elective area "Wealth Management"

• Performance analysis in practice
• Financial and succession planning
• Private equity and hedge funds

If you work in investment advice or asset management and look after clients with high demands, the focus is on "Wealth Management" is particularly suitable for you. The performance analysis of investment products is often a central task, which is why you will gain in-depth knowledge in this area.

The in-depth module "Financial and Succession Planning" will enable you to draw up a financial plan against the background of an investor's objectives and risk suitability and to apply the main features of legal and tax structuring options for asset succession during your lifetime, but also upon death.

In order to be able to provide appropriate support to demanding clients, you will learn how to develop holistic advisory and support concepts and will also be familiar with so-called "alternative investments" such as private equity and hedge funds. A separate module deals with these forms of investment, informs you about the relevant market participants and provides you with knowledge of strategies and instruments for dealing with these forms of investment.

Module responsibility: Prof. Dr. Gunnar Stark

2. compulsory elective area "Banking"

• Sales management
• Production management
• Overall bank management and supervisory law

The study focus "Banking" is particularly interesting if you are an employee in banks and savings banks and would like to take on management responsibility in one of the three pillars of sales, production or control. In the "Sales Management" module, you will acquire the necessary knowledge to manage sales units (branch, market area, possibly board department of smaller regional banks).

In risk-relevant business, the Minimum Requirements for Risk Management (MaRisk) stipulate that credit decisions must always be made by two equally weighted votes from sales and production, which is why you will also deal with issues relating to the production pillar in the "Production Management" module. After completing this module, you will be able to calculate bank products and, in conjunction with the third specialization module "Overall Bank Management and Supervisory Law", evaluate and optimize overall bank management processes, particularly with regard to risk aspects. Knowledge of overall bank management and supervisory law (e.g. regulatory and statistical reporting) is essential for managers in banks.

Module responsibility: Prof. Dr. Gunnar Stark

3. compulsory elective area "Family Office Management"

• Business models and core services of family office management
• Legal and tax issues of family office management
• Family Governance, Trusted Advisor and Life Consulting at Family Office Management

The study focus "Family Office Management" qualifies you to work in single-family offices or multi-family offices and thus in particular for the holistic support of wealthy private clients and families. You will first gain an overview of the market and deal with business models, core services and possible legal forms of family offices. The asset allocation and controlling of a family office are further topics of this focus area. The legal and tax structuring of family assets and the planning of asset succession are among the major challenges in the management of large assets, which is why you will also learn about the most important tax aspects of inheritance law and company law. As part of the legal aspects, you will take a closer look at the professional restrictions and regulations of a family office and the principles of "asset protection" and "mergers & acquisitions". The importance of functioning family governance in family businesses and advising entrepreneurs on the formulation of appropriate guidelines are also covered in this specialization, along with "Life Consulting".

Video with Prof. Dr. Werkmüller on the topic of family office management on M94/5 from 21.04.2022.

Module responsibility: Prof. Dr. Maximilian Werkmüller

4. compulsory elective area "Accounting and Taxation"

• International accounting
• National corporate taxation
• International corporate taxation

The focus "Accounting and Taxation" can support your career in the accounting and finance departments of larger industrial companies or in the tax and auditing departments of large consulting firms. International accounting plays a decisive role in this specialization. Due to the widespread use and obligation of listed companies to prepare IFRS financial statements, the focus is on IFRS regulations. In further modules, you will become familiar with the essential content of national and international taxation of companies and deal with international tax structuring and tax planning, among other things, which you can then apply in your professional practice.

Module responsibility: Prof. Dr. Peter Spettenhuber

Note: A second specialization can always be taken, which is then certified as a university certificate and charged separately.

How long will your studies take and what degree will you receive?

The standard period of study is 24 months. This refers to full-time study and can be extended accordingly if you are working at the same time. A free extension of 12 months is included in the tuition fees, so that the course can be completed in up to 36 months, depending on individual scheduling.

Once you have successfully completed all examinations, the university will award you the academic degree of "Master of Arts - Finance"which also entitles you to a doctorate. Alternatively, we also award the degree "Magister Artium".